Is this a war on cash or a war on privacy? Or both?

[gary49]

It's a unique number to get you into their system, that way they can track what you purchase. Nothing new, grocery stores do it all of the time by offering deals if you have their "Rewards Card." If you shop elsewhere though you will notice that they jack the prices up before offering you that "special discount."
TS used to ask for your zip code, and the clerks never believed me when I told them that I didn't have one.

I have never been asked for ID, but am in my bank and CU often enough that they know me, in the former they often have my account up by the time that I get to the counter.

TSC does have a rewards program, can't remember what it's called, that's why they're asking for your phone number. You have to sign up for it, phone number is how they id you, just don't sign up and don't give them your number if you're paranoid about it or just not interested. I like to mess with the grocery stores' card system by using ones that people drop in the parking lot. Who knew that 1984 would arrive not so much with the government surveilling us but as big business figuring out more than we want them to know about us through big data?

 

[Gunny]

We do the majority of our banking in a small local bank, either of us can make a deposit, withdrawal or transfer without any problems.

I keep a couple of small accounts at a large national bank and it seems that every time I want to do something there I have to show them ID. I think I'd be better off (and better served) by moving my small accounts into the local bank, just never got around to doing it. I hate to think of the steps they'd put me through if I wanted to take all my money out of their bank and close the accounts.

 

[3930dave]

Earlier this year my daughter needs some money. I went to local BofA branch with cash to deposit in her account. Had her account number and the details but they would not accept it from me. They put in policy last year that only the account holder can deposit cash in to an account.

And I thought Canadian banks were good at jerking customers around ! (Much of what we have here is the Big 5; an oligopoly in other words....).

I've received the same "money laundering" answers at times I've asked here..... the first time I got that answer, I broke out laughing - when I could speak again I said "Well, if somebody is laundering money through my account in these amounts, it has to be the least-successful criminal enterprise in history".

To OP's question - I'd say it's a war on both.

Rgds, D.

 

[zzvyb6]

Snowflakes and millennials think they are cool when depositing cash into a hijacked or stolen account. The deposit slip shows the account summary and total. Then they come back and withdraw almost the full account balance. They are just so smart, greedy, socialist, pathetic and criminal. It's a sign of the times.

 

[Jchonline]

Nothing to do with (regulated) banks...but...
Yesterday I was in both a Tractor_Supply and a Harbor Freight store...both times when checking out I was asked for my phone #...what exactly were they going to do with my phone #?? I for sure don't want either of them calling me for any reason...so they must use it to get other information...from who do they get information they can use ??
When they asked my reply was "NO, I don't have a phone"...!

They want it for marketing. With your phone they can find your address, maybe even your email from other sources. They also have demographic info so they can tell the area where you live, so they can help identify the types of customers frequenting the store.

 

[2LaneCruzer]

They want it for marketing. With your phone they can find your address, maybe even your email from other sources. They also have demographic info so they can tell the area where you live, so they can help identify the types of customers frequenting the store.

Yeah, they aren't fooling anybody. I don't think I have ever gotten any benefit from any of these "cards". I never carry them anyway, and they always ask for my phone number. I ostensibly get a discount on some of our vitamins...BOGO...but it's probably a scam. Bed Bath and Beyond sends me more good stuff in the mail!

 

[Travelover]

Snowflakes and millennials think they are cool when depositing cash into a hijacked or stolen account. The deposit slip shows the account summary and total. Then they come back and withdraw almost the full account balance. They are just so smart, greedy, socialist, pathetic and criminal. It's a sign of the times.

You just can't trust those snowflakes and millennials. Personally, when I have a big expense like an ostrich coat or landscaping, I just wire the money from an offshore account.

 

[smstonypoint]

The next thing you know, we will need a photo ID to buy groceries.

Scratch that. I've heard we already do.

Steve

 

[dfkrug]

And I thought Canadian banks were good at jerking customers around ! (Much
of what we have here is the Big 5; an oligopoly in other words....).

Yeah, in the US, we have thousands of banks. We also had thousands of bank failures back in the 30s. Canada
had NO bank failures in the 30s, but I think there were only 8 banks in Canada back then. US regs made it
difficult or impossible to consolidate small local banks back then, so they could not spread the risk.

I have recently run into the no-cash-deposit policy at 2 of the biggest US banks when I was trying to pay
a customs brokerage and a freight-forwarder.

What I do not understand is why US customers stay with the Big 4 US too-big-to-fail mega-banks. You
get better service at credit unions and local banks, and most offer similar services now, even biz accts.

 

[Steppenwolfe]

Earlier this year my daughter needs some money. I went to local BofA branch with cash to deposit in her account. Had her account number and the details but they would not accept it from me. They put in policy last year that only the account holder can deposit cash in to an account.

Yep... just happened to my wife last week at Wells Fargo for one of our sons. She had deposit slip and 1k cash, they said no way...